ChartBuddy
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May 05, 2015, 04:57:58 AM |
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Cconvert2G36
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May 05, 2015, 05:07:32 AM Last edit: May 08, 2015, 01:17:35 AM by Cconvert2G36 |
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Looks like the recent dumpage kicked off on okcoin, finex reacting strongly.
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(Lithium)
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May 05, 2015, 05:21:21 AM |
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dump time
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molecular
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May 05, 2015, 05:43:25 AM |
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From the 2014 Annual Report published last month: Authorized Participants who make deposits of bitcoins with the Trust in exchange for Creation Baskets receive no fees, commissions or other form of compensation or inducement of any kind from either the Sponsor or the Trust. No Authorized Participant has any obligation or responsibility to the Sponsor or the Trust to affect any sale or resale of Shares. Authorized Participants may realize significant profits buying, selling, creating and redeeming Shares as a result of changes in the value of Shares or bitcoins. In particular, an Authorized Participant may profit from the “spread” (or difference) between the prices at which it purchases and sells Shares and bitcoins (or obtains Shares or bitcoins through the creation and redemption of Baskets). For example, when creating Shares, an Authorized Participant may deposit bitcoins with the Trust that it has acquired at a price that is lower than the current Bitcoin Market Price and thus receive Shares with a value greater than the Authorized Participant’s cost of acquiring the deposited bitcoins. Similarly, an Authorized Participant may sell Shares to a customer from its inventory at a price higher than the Authorized Participant’s cost in acquiring such Shares. As another example, when redeeming Shares, an Authorized Participant may receive bitcoins and then hold them for later resale at a profit if the price of bitcoins increases. The frequent and significant fluctuations in the price of bitcoins increases the extent to which an Authorized Participant may profit from its transactions in Shares and bitcoins. As of the date of this Annual Report, the only Authorized Participant is SecondMarket, Inc., an affiliate of the Sponsor.
SponsorGrayscale Investments LLC CustodianSecondMarket Holdings The Only Current Authorized Participant SecondMarket, Inc The main question for me: Is it is possible for SecondMarket, Inc to receive creation baskets of shares and place them for sale on the OTC market without the 12 month lockup? If yes, SecondMarket could quickly arbitrage the OTC share price closer to the NAV of the trust while providing liquidity that the OTC share needs at this point. If no, the ask supply of the OTC share will be completely dependent on 12 month aged shares from individual investors. Meaning very low volume and little impact on the bitcoin market in general, at least for the reasonably near future. Care to comment Barry? I won't hold my breath. I second this question. EDIT: in fact I forwarded it on a medium Barry might listen on:
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molecular
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May 05, 2015, 05:55:13 AM |
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dump time 1 Million USD worth of shorts got closed on finex: I like seeing these closed at low prices
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 05, 2015, 05:58:01 AM |
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Cconvert2G36
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May 05, 2015, 06:02:49 AM |
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dump time 1 Million USD worth of shorts got closed on finex: I like seeing these closed at low prices Agreed. Bulls cutting margin risk after GBTC landed without a jump. Much better than them going up to counter significant real selling pressure.
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Wolf Rainer
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May 05, 2015, 06:49:28 AM |
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Again? Fuck the shorts!
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ChartBuddy
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May 05, 2015, 06:57:58 AM |
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hdbuck
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May 05, 2015, 07:09:42 AM |
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GBTC volume is lower than Cryptsy's.
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Fatman3001
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Make Bitcoin glow with ENIAC
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May 05, 2015, 07:16:39 AM |
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Ok, enough fun now
Let's snap this mofo in reverse!
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 05, 2015, 07:58:03 AM |
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Wolf Rainer
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May 05, 2015, 07:59:56 AM |
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dump time 1 Million USD worth of shorts got closed on finex: I like seeing these closed at low prices Agreed. Bulls cutting margin risk after GBTC landed without a jump. Much better than them going up to counter significant real selling pressure. GBTC ATH is 1750 so... That`s a fucking nice pump.
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hmmkay
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May 05, 2015, 08:07:53 AM |
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Why does it say approximately 0.1 bitcoin, and not exactly 0.1 bitcoin per share?
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Wolf Rainer
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May 05, 2015, 08:08:57 AM |
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Why does it say approximately 0.1 bitcoin, and not exactly 0.1 bitcoin per share?
Fees.
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Elwar
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Viva Ut Vivas
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May 05, 2015, 08:13:51 AM |
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I am willing to sell my bitcoins to anyone at $50 below the $1750/BTC value.
PM me for this exciting opportunity, first come first served, while supplies last.
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sAt0sHiFanClub
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May 05, 2015, 08:27:25 AM |
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So Wall Street didnt fall for the 1750-a-coin ruse, no? Shame. Would have been a nice little earner. So, now that Silbert and GBTC has fallen a little flat, who is the next Messiah tm in the pipeline? Winklevoss?, Then BitLicense?
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LFC_Bitcoin
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#1 VIP Crypto Casino
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May 05, 2015, 08:27:42 AM |
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I am willing to sell my bitcoins to anyone at $50 below the $1750/BTC value.
PM me for this exciting opportunity, first come first served, while supplies last.
Ignore this guy. Take up my $1500 per bitcoin offer. Best price around.
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inca
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May 05, 2015, 08:45:39 AM |
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Shorts up nearly 1000 to near 27k. Longs down slightly. Price back to where it was two days ago.
It would be nice to see the bears get excited again and start to heavily short bitcoin from here. A single bullish large market order and the fun begins again.
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